Today Nifty and Bank Nifty open gapped down. Then after some consolidation, both the indices again moved lower and closed in red 5% down.
The 16500 is a crucial level for the Nifty Index. Until the Nifty is trading below that, it can fall more. On the downside, 16000 & 15500 are the major support levels.
Bank Nifty is also weak and can fall further if it breaks & sustains below the 34900 levels.
Note: The above levels are for educational purposes only, not Buy/Sell advice.
Divesh Jotwani is a Full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day in and out markets.
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About the Author
Divesh Jotwani is an active and full-time trader in the Indian markets. He has spent over 20+ years researching and discovering WD Gann's methods and applying them daily in the markets.
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